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Shares of iParty not in compliance

The Lowell Sun

Updated:
11/26/2012 11:20:30 AM EST

DEDHAM -- IParty Inc., a struggling party-goods retailer, said Friday that it has received a letter from the New York Stock Exchange indicating that the company's stock is not in compliance with exchange standards due to its low price.

Shares of iParty closed Friday at 16 cents, down a penny.

In a statement, iParty officials said their stock's continued listing is predicated on it effecting a reverse stock split of its common stock "within a reasonable period of time," which the Exchange has determined to be no later than May 20, 2013. They added that if the company does not effect a reverse stock split prior to that time, it could become subject to delisting procedures.

IParty operates 54 iParty stores in New England and Florida and an Internet site for costume and related goods.

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